The Bank was a large building built of native red rock. It was built in the mid 1880s, with the intent to serve the booming mining industry in and around Chloride. It was not to be.

The Bank failed even before it could make use of the newly printed checks and deposit slips. The rumor is that there was not enough cash available in this cash starved area for the bank to operate. Stores, saloons, and other businesses could barter for their goods, but the bank needed cash. It opened as a saloon instead, and was the ninth saloon in town. It was called The Bank, and it advertised in the local newspaper, The Black Range, that “you can get your liquor at The Bank." When the miners left town when the boom was over, The Bank closed down as did most other businesses.

The building became a residence, but was eventually abandoned, and fell into disrepair. In the 1940s the roof was removed to use the materials somewhere else, and the beautiful building stones began to disappear, being hauled away for use elsewhere. The building stood as a derelict with only the front wall and partial side walls for over 60 years. It has recently been resurrected with the available stones put back in place, and the remaining portions of the walls completed using locally made adobes.